Bank-Fintech Partnership Enhancement Act

If enacted, this bill would direct the Federal Reserve, the Comptroller of the Currency, and the Federal Deposit Insurance Corporation to conduct a comprehensive study on partnerships between traditional banking organizations and financial technology (fintech) companies. The study would examine how such partnerships could help support the formation of new banks and improve the health of community banks, including whether they could reduce the time needed to bring banking products to market, lower regulatory compliance burdens, improve customer acquisition, enhance technological capabilities, and provide access to diverse funding sources.

The bill would also require these federal regulators to identify what changes to existing banking laws or regulations might be needed to encourage more effective partnerships between banks and fintechs. A similar study would be conducted by the National Credit Union Administration regarding partnerships between credit unions and fintech companies. Both regulatory bodies would be required to submit their findings and recommendations to Congress within one year of the bill's enactment.